Head, Digital Banking & Lending Products - US Wealth Management

What is the opportunity?

As the Head of Digital Banking Lending Products, you will oversee the product development and product management functions for all digital banking and lending products within a growing organization for Wealth Management-U.S. (WM-US). This position will own the thought leadership, strategy, design, implementation and delivery of the entire suite of WM-US digital banking and lending products to include, but not limited to, debit/credit cards, loyalty programs, bill pay, ACH/wires, mobile applications, securities-based lending (SBL), mortgages, cash management accounts, etc.

You will be responsible for the build-out, leadership and oversight of the digital banking and lending products team in an increasingly complex, evolving regulatory environment, and translate the unknown into tangible recommendations, goals and actions. Executive level collaboration with key business partners, internal stakeholders and external vendors will be required in this role to lead the successful development, implementation, delivery and adoption of the WM-US digital banking and lending product set to meet the financing needs of clients, allowing clients to manage their finances holistically at RBC, and to meet aggressive business objectives.

What will you do?

• Oversee the thought leadership, strategy, design, development, implementation and delivery of the current and future state of WM-US digital banking and lending products to include, but not limited to, debit/credit cards, loyalty programs, bill pay, ACH/wires, mobile applications, securities-based lending (SBL), mortgages, cash management accounts, etc.
• Create and manage a robust and comprehensive digital banking and lending product roadmap, informed by innovative thought leadership, client and field needs, regulatory requirements, market trends, and firm capabilities.
• Collaborate with internal stakeholders and partners, such as business leadership, technology, operations, risk, legal, compliance, sales, credit, technology, finance, etc. and external vendors on matters relating to digital banking and lending products, such as product ideas, assessing viability of implementation and/or changes, and ensuring organizational alignment around the overarching strategy and roadmap for digital banking and lending products.
• Launches, manages, and ensures ongoing regulatory compliance of all WM-US digital banking and lending product solutions and vehicles, partnering with key internal partners as appropriate, with a focus on managing fiduciary obligations to clients.
• Create the evaluation criteria to ensure successful delivery of digital banking and lending products and partner with internal partners to develop the framework and processes to ensure accurate and effective data, reporting, metrics and business analysis related to the digital banking and lending products.
• Ensure the product set follows proper risk management and compliance protocols, including timely updates to product policies and enhance and maintain the competitiveness of the existing product line-up through external benchmarking and continuous reviews, including pricing, performance and access.
• Present key product performance metrics, analysis and recommendations to executive management and various internal stakeholders and partners.
• Act as the digital banking and lending product subject matter expert for WM-US.
• Design and build out the WM-US digital banking and lending product team to ensure key positions are in place to support product strategy, implementation and support. Oversee team and foster a culture of development and learning, set clear expectations and objective targets and hold team members accountable to the outcomes produced.
• Execute business activities and holds teams accountable to operate within risk appetite, limits and policies, understands the risks being undertaken, and takes ownership of decisions and outcomes.
• Implement and maintain an appropriate system of internal controls to identify, assess, measure and mitigate current and emerging operational, compliance, reputational and strategic risks on an ongoing basis, and supervises appropriate management of risks consistent with the US strategy and risk tolerance.
• Monitor and report on risks to achieve sustainable compliance and timely response to the shifting regulatory and risk environment.
• Responsible for the identification, assessment, monitoring, reporting and timely mitigation/remediation of all material risks and collaborate with partners in other remediation activities as needed.
• Demonstrate understanding of the full spectrum of regulatory actions, including examinations and other supervisory engagement and processes.
• Oversees the establishment of effective action plans to satisfactorily resolve outstanding risk issues and completion of all assigned remediation tasks on time and meet or exceed expected quality levels.
• Responsible for timely escalation to appropriate parties when tasks or milestones are moving off schedule and identify solutions to remediate.
• Manages interactions and relationships with appropriate regulatory bodies and/or examiners, as required.

What do you need to succeed?

Must-have

• Bachelor's degree in finance, business or related field with 15+ years of digital banking and lending product development experience within a wealth management firm, with direct experience in managing banking and lending products, including but not limited to, credit cards, securities based lending (SBL), mortgages, cash management accounts, etc.)
• 10+ years of executive leadership experience in leading a product team within the financial services industry; extensive experience managing digital banking and lending products in the context of a broker dealer in a wealth management firm
• Highly motivated self starter who possesses the curiosity to ask the hard questions, explore new ideas and continuously learns and researches to meet goals; strong drive for results working with various stakeholders and navigating large organizations with complex processes
• Deep understanding of the product set regulatory and legal requirements with drive to grow a business and hit key performance targets while ensuring products are suitable for clients and properly managing risk to the firm
• Excellent interpersonal, oral, written and presentation skills including developing relationships with key internal and external partners; A collaborative team player with a positive "can-do" attitude who is both proactive and forward-thinking
• Analytical skills with the ability to develop recommendations and support assertions
• Creative and innovative problem-solver with excellent critical thinking skills to help identify and improve process inefficiencies
• Time management and organizational skills with the ability to work well under pressure and manage and multiple deadlines from different stakeholders
• Travel to other RBC offices and client premises as required

Nice-to-have

• MBA
• SIE Series 24, 7 and Series 63 licenses preferred

What's in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.
• Leaders who support your development through coaching and managing opportunities.
• Ability to make a difference and lasting impact.
• Work in a dynamic, collaborative, progressive, and high-performing team.
• Opportunities to do challenging work.
• Opportunities to build close relationships with clients.

The expected salary range for this particular position is $130,000-$210,000 (Minneapolis, Charlotte and Raleigh) and $160,000-$250,000 (New York), depending on your experience, skills, and registration status, market conditions and business needs.

You have the potential to earn more through RBC's discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.

RBC's compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

• Drives RBC's high-performance culture
• Enables collective achievement of our strategic goals
• Generates sustainable shareholder returns and above market shareholder value

Job Skills

Additional Job Details

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.